Main Approaches to Forming Effective Sustainable Entrepreneurship Development

Inna V. Kuznetsova, Elena S. Shurshalova, Olga V. Beliaeva, Marina O. Teklina and Ivetta Y. Zakharyashcheva

Chapter 34 in The Role of Entrepreneurship in Resolving Modern Global Economic Problems:A Systemic Review, 2026, pp 355-368 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Innovation is the catalyst for the effective development of sustainable entrepreneurship, enabling companies to meet the challenges of the times and create a future economy based on sustainability principles. Investments in new technologies, social initiatives, and partnerships can lead to meaningful changes in the business environment. They have a positive impact on society and nature. Practice shows that sustainable entrepreneurship is becoming a necessity and an opportunity for growth and prosperity in a changing world. Simultaneously, with accelerating climate change, depleting natural resources, and increasing social instability, sustainable entrepreneurship faces several challenges. To successfully overcome these challenges, it is necessary to consider key aspects such as financing issues, difficulties in scaling, limited consumer awareness, regulatory uncertainty, innovation and technology, and others. Consequently, such challenges can limit the potential of sustainable business models and slow the pace of their development and market adoption. Nevertheless, with the right approach and utilization of available resources, these challenges can transform into new opportunities. In this regard, the research substantiates the importance of effective sustainable development, which considers individual business characteristics and global trends. This process should be considered given different approaches, each of which plays a significant role in forming effective entrepreneurship.

Keywords: Entrepreneurship; Contemporary Global Economic Problems; Socially-focused Economy; Digital Economy; Climate Economy; Innovative Entrepreneurship; Social Justice; Global Inequality; Realizing Human Potential; Quality of Life; Economic Globalization; Green Transition; Investment Transition; Developing Economies; Central Asian Economy (search for similar items in EconPapers)
JEL-codes: F63 L26 O10 O17 Q01 (search for similar items in EconPapers)
Date: 2026
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